Regional Trading Arrangements | Test For NTS PPSC FPSC, TEST

Trade creation takes place when ?

A. a country moves from autarky to free trade
B. a movement to a customs union reduces the cost of trade through standardization
C. economic integration results in a movement in product origin to a lower-cost member country
D. economic integration results in a shift in product origin from a lower cost nonmember country to a member country having higher costs

The implementation of the European Union has ?

A. made it harder for Americans of compete against the Germans in the British market
B. made it easier for Americans to compete against the Germans in the British market
C. made it harder for Americans to compete against the Japanese in the British market
D. made it easier for Americans to compete against the Japanese in the British

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Category: Regional Trading Arrangements

Trade creation takes place when ?

If A forms a customs union with C, the value of trade diversion will be ?

The implementation of the European Union has ?

________ is said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries in favor of member countries ?

_________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pregroup levels ?

When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

As of 2002, the ________ became the official currency union of the European Monetary System ?

Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is and the total number of countries forming the customs union is _?

If A imposes a per unit tariff of $10 on imports from both B and C A will import ?